The 8th edition of the Caribbean Gaming Show & Summit Taking Place in Cancun Mexico
Caribbean Gaming Show & Summit opening its doors on 26th and 27th of April 2018
The month of April has been earmarked by the Caribbean Gaming Show & Summit for its 8th edition, with the Backing of AIEJA, the main Gaming Association in Mexico.
Counting on the active participation of the companies that are the most representative of the Mexican market, GS2018 will open its doors in the dream city of Cancun, on the 26th and 27th of April 2018, thus keeping abreast of developments in the Caribbean markets.
Mexico – an established gaming market
In the recent 1st National Gaming Convention, carried out in Mexico City, last October 17 and 18, the General Gaming and Sweepstakes Director, Mr. Luis Felipe Cangas asserted that Mexico is an established market, with a trajectory of growth and sustained management of approximately a 10 year span. It is important to point out that it is a clean, transparent sector, and in the process of integrating and legalising all the stakeholders that currently operate in the national territory. It is the intention of his Department to attract good operators and manufacturers. He clarified that Mexico is not a second-hand market. The proximity to the world´s leading market (USA) facilitates the drive to be up-to-date with the latest technology. It is in the interest of the Government to become responsible entrepreneurs, not mere passengers. Mexico is open to multiple investment options in gaming.
This vast country, with a population of 127 million people, having a penetration level of 59% in terms of internet and a mobile penetration level of 91%, which is highly interesting for the online market. The estimated growth in the gaming sector is 25% per annum, far superior to all other countries in Latin America.
Elizabeth Leiva, orchestrator of the International Event, commented that groups like Caliente and Codere lead the industry. The interactive offerings reach a the amount of 300m annually. As the global rate grows between 9-13%, Mexico is on a 25% per annum growth rate.
In Mexico there is a fondness for North American sports games. In regards to the new trends, Mexico has already set a precedent and example, in terms of the Sunday auto racing television, followed by the version in the form of e-sports, which is clearly directed to the market of the millennials (18-30 years). As a demonstration of the Mexican market being serious and well on its way, the Caliente Group set the precedent during Congress for being the first transnational company having signed with the NBL.
E-sports and member services on the rise
Areas such as member services or e-sports are still virgin, with a long way ahead for them to grow. From the point of view of the Slots market, Mexico is very personalised. Manufacturers permanently work with their clients to assess the results of the new products and make changes according to the preferences of the market, since in the north they like roller related games, in the south, there is a greater preference for bingo, for example. The mystery and accumulated jackpots are widely sought after throughout the national territory.
Challenges and the future of gaming in Mexico
The big question in the market today is how to attract the millennials to machines, since their strong preference, is for table games. Although Mexico has a law that has never been modified (since the 31st of December, 1947), and a regulation was adopted at the Federal level most recently in 2004, decreeing the lottery and betting industries. It has been a long time since a draft amendment bill has existed and it has not passed the barrier of the Chamber of Deputies. This is perhaps the opportunity to the syndicate to consolidate all interests in a new proposal and for it to be presented to the next incoming government. It is pleasing to see that the general sentiment is moving in this direction, and that the industry is on the path of understanding where competitors of all levels are able to sit down to talk and to finalise.
The gaming industry generates 29.000 Million Pesos (1,500 Billion USD) every year, but can grow to double, with better legal and tax conditions, despite the fact that this will be a great challenge considering that there are 31 States, with each one have different formulas and perceptions.
Upon being requested to give a final message, Elizabeth Leiva, Organiser of the event, left the following reflection, – as with the Peru Gaming Show undertook during the past decade, we hope that the Caribbean Gaming Show & Summit will serve as a platform for all stakeholders in the market and that they find a point of convergence and are able, with effort and understanding, to achieve the mutual goals that help to make Mexico one of the largest and best regulated markets in Latin America.